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1 answer:
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Answer:
Loss of $1.20
Step-by-step explanation:
The possible outcomes for this lottery and their probabilities are:
- a 1 in 100 chance of winning $450
- a 2 in 100 chance of winning $120
- a 4 in 100 chance of winning $30
- a 93 in 100 chance of losing $10
Therefore, the expected value of this lottery when buying one ticket is:
Therefore, you are expected to lose $1.2 per ticket.
The profit does the company make from producing and selling four soccer nets is $109, the correct option is C.
<h3>What is profit?</h3>
Profit is a financial benefit that is realized when the amount of revenue gained from a business activity.
Given
|Soccer nets per day | Total Cost | Total Revenue |
| 1 | 7$ | $30 |
| 2 | 9$ | $60 |
| 3 | 10$ | $90 |
| 4 | 11$ | $120 |
| 5 | 13$ | $150 |
The total cost in the four soccer = $11
The total revenue in the four soccer = $120
The profit does the company make from producing and selling four soccer nets is;
Hence, the profit does the company make from producing and selling four soccer nets is $109.
To know more about profit click the link given below.